October infrastructure growth zooms to 6-month high of 6.6%
Infrastructure sector recorded a growth rate of 6.6 per cent in October the highest in last six months on the back of impressive performance by steel and refinery products. However, growth rate of power generation, fertiliser production and cement output fell considerably on year-on-year basis. Coal production continued to fall for the third straight month.
The growth rate of eight infrastructure sectors -- coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity -- was 3.8 per cent in October 2015. It was 5 per cent in September 2016.The core sectors, which contribute 38 per cent to the total industrial production, expanded by 4.9 per cent in April-October compared to 2.8 per cent growth in the similar period of last financial year.
As per the official data released today, steel production jumped 16.9 per cent in October against contraction of 5.5 per cent in the year-ago period.
The output of refinery products soared by 15.1 per cent in October. The sector had declined by 4.4 per cent in October last year. Growth in fertiliser and electricity generation was at 0.8 per cent and 2.8 per cent, respectively, in October 2016, against 16.8 percent and 13.8 per cent, respectively in October 2015. Coal production declined by 1.6 per cent in October as against a growth of 6.6 per cent in the year-ago period.
Natural gas and crude oil output during October fell by 1.4 per cent and 3.2 per cent, respectively. The Indian economy grew at 7.3 per cent in the September quarter of current fiscal, up from 7.1 per cent in the previous three months, mainly on improved performance of manufacturing, services and trade sectors.
The Gross Domestic Product (GDP) or national income was 7.6 per cent in the second quarter of the last fiscal. According to the data released by the Central Statistics Office (CSO), the Gross Value Added (GVA), which is estimated at the basic price, showed a growth of 7.1 per cent in the second quarter of 2016-17, compared to 7.3 per in the year ago period.